The problem is that the mortgage assumes fixed payment, term, rate loans.
HELOCs don't meet this for most people.

As to deductibility/reporting of the HELOC interest, I'd use a category for
the interest transactions like Interest Expense : HELOC or similar and setup
the settings **for the category you use** to get it where you want it in tax
reports and tax estimator.

"R. Ian Lee" <RIanLee[at]discussions.microsoft.com> wrote in message
news:0E34368E-ABB1-4E6D-866F-3767D0FEB25E[at]microsoft.com...
- quote -

Dick,

Yea, that's what I've been doing. I was wondering if someone had figured
out how to do this similar to the way a mortgage account works. Also, as I
understand it the interest of this type of account is tax deductible.
There's not an option anywhere on a credit card account to mark this as a tax
deductible account. I haven't investigated this yet, but I'm sure it'll
effect some tax reports at the end of the year. Not a big deal though...

Thanks!

Ian

"Dick Watson" wrote:

- quote -

I'd set it up as a Credit Card or Liability and account for the interest as
quoted on statements as expense transactions added to the account's balance.
Transfer payments in. When it gets to $0, you are done.

"R. Ian Lee" <ian[at]houseoflees_NOMORESPAM.com> wrote in message
news:Ox25T2cjGHA.1264[at]TK2MSFTNGP05.phx.gbl...
- quote -

Hello folks,

I'm interested in hearing ideas about how to setup a home equity loan
(HELOC) in Money 06 such that it will correctly allocate principal and
interest. The problem is that this particular loan is an "interest first"
loan where all of the interest is paid off first and then the principal is
paid. Yea....what a scam. But it worked as a short term solution.

Thanks!